News

19December2013

D2N2 LEP to submit first draft of business case to deliver £2bn investment programme

The D2N2 Local Enterprise Partnership today submits the first draft of its ambitious plan to deliver a £2bn business investment programme across Derby, Derbyshire, Nottingham and Nottinghamshire to create 55,000 jobs by 2023.

The Strategic Economic Plan business case will go to Government today (Thursday, December 19) and will then be published by D2N2 for consultation from tomorrow. The final submission has to be made by March 31, 2014, following feedback from Whitehall.

This new in-depth document builds on the initial strategy - D2N2 the UK’s Most Inspirational Postcode – which was launched in July 2013.

The first draft submission will make a compelling case to devolve Government funding – from the Single Local Growth Fund which has been allocated £10bn over five years between 39 Local Enterprise Partnerships across England – to the D2N2 area to deliver its ambitious plans for Derbyshire and Nottinghamshire.

The amount of funding received will be combined with local funding from the public and private sector and the 250 million euros of EU funding already allocated to D2N2 from 2014 to 2020. This will drive the plans forward and create tens of thousands of jobs, raise skills and support companies to grow and prosper.

D2N2 has outlined four strategic areas for growth to its strategy. They are:

BUSINESS SUPPORT

INNOVATION

FINANCE

INFRASTRUCTURE

D2N2 Chief Executive David Ralph said: “2013 has seen a significant improvement in the economy although for many it remains tough. We expect in 2014 for things to improve further but we are taking tough decisions with challenging deadlines as D2N2 takes another major step forward in regards to driving economic growth.

“This is a competitive process and we must make our Strategic Economic Plan really standout, with maximum input from the private sector supported by public sector, higher education, further education and the voluntary and community sector. From manufacturing to the visitor economy, we must bring out what is distinctive about D2N2, demonstrate our competitive advantage and showcase exactly why this is the UK’s Most Inspirational Postcode.”

D2N2 Chairman Peter Richardson added: “Over the next few weeks and months, this plan will be finalised. I assure you, no stone will be left unturned.

“We have to make it count, help the D2N2 area as well as the whole East Midlands punch above its weight and we certainly won’t be settling for just our ‘fair share’ of the ‘single pot’.

“D2N2 is a passionate and driven partnership. We have to make sure our Strategic Economic Plan is innovative and inspirational – and that it captures our vision - a more prosperous, better connected, and increasingly resilient and competitive economy.”

The Strategic Economic Plan first draft submission will be available to view and provide feedback on from Friday December 20, 2013. Please go to www.d2n2lep.org/Growth